Marks Group Wealth Management Inc Sells 3,390 Shares of Cavco Industries, Inc. $CVCO

Marks Group Wealth Management Inc decreased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 53.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,988 shares of the construction company’s stock after selling 3,390 shares during the period. Marks Group Wealth Management Inc’s holdings in Cavco Industries were worth $1,447,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. UBS Group AG lifted its holdings in shares of Cavco Industries by 31.5% in the fourth quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock worth $23,640,000 after buying an additional 9,589 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cavco Industries by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 32,057 shares of the construction company’s stock valued at $18,616,000 after acquiring an additional 13,694 shares during the period. M&T Bank Corp purchased a new position in Cavco Industries during the fourth quarter valued at approximately $9,501,000. Intech Investment Management LLC grew its stake in Cavco Industries by 58.0% during the fourth quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock valued at $3,406,000 after acquiring an additional 2,116 shares in the last quarter. Finally, Pier Capital LLC increased its holdings in Cavco Industries by 90.8% during the 4th quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock worth $7,150,000 after acquiring an additional 5,761 shares during the period. Institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVCO. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. UBS Group began coverage on shares of Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 price target for the company. Finally, Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cavco Industries has an average rating of “Moderate Buy” and an average target price of $625.00.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $585.49 on Friday. Cavco Industries, Inc. has a 52-week low of $397.38 and a 52-week high of $713.01. The company has a market capitalization of $4.51 billion, a P/E ratio of 24.43 and a beta of 1.28. The company has a fifty day moving average of $553.79 and a 200-day moving average of $554.53.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The business had revenue of $550.13 million for the quarter, compared to analysts’ expectations of $571.06 million. As a group, analysts forecast that Cavco Industries, Inc. will post 24.5 EPS for the current fiscal year.

Insider Transactions at Cavco Industries

In other news, CAO Paul Bigbee sold 200 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the transaction, the chief accounting officer directly owned 1,105 shares in the company, valued at approximately $594,213.75. This represents a 15.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allison Aden sold 1,473 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the completion of the sale, the executive vice president owned 9,147 shares of the company’s stock, valued at $5,716,875. The trade was a 13.87% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,541 shares of company stock worth $2,121,932. 1.70% of the stock is currently owned by corporate insiders.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.